Frequently asked questions about Almi’s loans

You can be both a new or an established business owner. You can apply for a loan from Almi if you run, or plan to start, a company that is registered in Sweden, has up to 250 employees and an annual turnover of no more than EUR 50 million, or a balance sheet total of up to EUR 43 million.

To use Almi’s services, you need to have a residence permit, be an EU or EEA citizen with right of residence, or be a Nordic citizen.

Almi’s loans are aimed at companies with a business idea that has the potential to develop, grow or transition. You don’t need to have an existing relationship with a bank before applying – Almi often complements bank financing and can take a higher risk than banks normally do.

Private individuals cannot apply for loans from Almi.

No, you can submit your application even if the company is not yet registered. However, the company must be registered before any approved loan can be paid out.

No, Almi only lends to companies. The loans are intended for investments that develop a business, so you need to have or start a company in order to apply. If you need to finance something privately, such as share capital, you need to take out a private loan from a bank or another private lender.

To submit a loan application to Almi, you need BankID, Mobile BankID or an electronic ID from Telia. If you don’t have an electronic ID, you need to obtain one in order to log in and sign your application securely. Unfortunately, we cannot accept applications without electronic identification.

A needs assessment meeting is often your first step in the contact with Almi and helps us understand your entire business situation, not just a potential loan requirement.

We start with a meeting where you and an adviser together look at where your company is today, where you want to go, and what opportunities or challenges lie ahead.

During the meeting, you go through the company’s current situation, goals and development plans. The adviser asks questions to get a full picture and identify which type of support is most suitable.

The meeting also provides space to discuss industry-specific risks and business opportunities, as well as how your company’s sustainability work affects the business over time. The aim is to identify opportunities that can strengthen profitability, competitiveness and long-term development.

When applying for a loan, the needs assessment meeting is part of the process. This allows us to take responsibility for our lending and ensure that any financing matches both your needs and the company’s ability to repay.

The meeting is free of charge, takes about one hour and can be held digitally or in person.

The documentation required depends on whether your company has completed annual accounts or not.

If you have annual accounts, you should attach:

• a budget
• the most recent annual accounts
• current interim financial statements
• if the annual accounts are older than four months: profit and loss statement and balance sheet for the current year
  preferably comparative figures from the same period in the previous year

If you don’t yet have annual accounts, you should attach:

• a budget
• interim figures, if available
• preferably comparative figures

The more complete your application is, the faster we can process it.

A declined application means that Almi cannot approve a loan based on your company’s current situation. In our lending, we must always ensure that the credit matches both your needs and your ability to repay. A decline also means that you cannot be granted another type of loan from Almi instead.

The decision cannot be appealed. However, we can often provide guidance on what you can develop or strengthen in order to move towards future financing.

The processing time is normally around 3–4 weeks, provided that the application is complete. If documentation is missing, it may take longer. All applications are handled by your regional Almi office, which will contact you if anything needs to be supplemented.

No, you only submit one application. Together with the adviser, you review your needs and determine which loan or loans are most suitable. You don’t need to apply for multiple products or resubmit your application if another loan type turns out to be a better fit.

Almi’s credit assessment is based on your company’s ability to repay and its future potential.

The adviser reviews the company’s current situation, finances, business model and future plans. The assessment is not only based on figures – potential, market conditions and your goals are also taken into account.

For a loan to be approved, there must be a reasonable likelihood that the company can repay the loan, and the loan must always match both your needs and the company’s repayment capacity.

State aid is when the state, a municipality or a region supports a business with public funds, for example through grants, loans on favourable terms, guarantees, surety commitments or rent subsidies. All state aid is subject to EU rules designed to ensure fair competition within the EU internal market.

When you apply for a loan from Almi, parts of the financing may be covered by state aid rules. We help you understand what this means for you and your company.

Read more about state aid on the government’s website

Most loans from Almi have a repayment period of 3–5 years. This can be adjusted depending on what you are financing and the type of loan.

The adviser will discuss which repayment schedule is best suited to your company.

A personal guarantee is a form of security that Almi may require when a limited company applies for a loan. This means that the owner or another individual guarantees part of the loan amount.

If the company cannot repay the loan, Almi can claim the agreed amount from the guarantor. Personal guarantees are a way to share risk and can make it possible for more companies to access financing, especially when banks are unwilling to take full risk.

The collateral required varies between different loans and is used to share risk.

• For Microloans, a limited personal guarantee of 10% is required.
• For Business Loans, Growth Loans, Export Loans and Green Loans, company charges combined with a limited personal guarantee are usually required.

The adviser will go through what is needed based on your company’s situation.

Almi’s interest rate is set individually based on the risk in your company and your repayment capacity. Since Almi often finances the part of a loan that banks cannot take, this means we take a higher risk. As a result, our interest rates are normally around 2–3 percentage points higher than those of banks.

You will receive an explanation of what affects your interest rate and why it is set at that level.

No, share capital is considered the owner’s own investment. If you need to finance share capital, you must take out a private loan. Almi only lends to companies.

No. Refinancing is not part of Almi’s mandate. The loans are intended for forward-looking investments that develop the business, not for repaying existing credits.

Yes, Almi can participate in the financing of a company acquisition. For smaller capital needs of up to SEK 250,000, Almi can in some cases finance the entire amount. For larger needs, co-financing is required, for example through equity, a bank loan or a private investor.

Exactly how much Almi can finance depends on the risk in the transaction.

How much Almi can finance varies depending on risk and the project, but on average we finance around one third of the total capital requirement. For smaller investments of up to SEK 250,000, we can in some cases finance the entire amount.

For capital needs exceeding SEK 250,000, co-financing is required, for example through equity, bank loans or other private financiers.